Noble Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Reports Impairment Charges for the Fourth Quarter of 2013
January 22, 2014 at 05:00 pm EST
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Noble Corp. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net income attributable to Noble Corporation of $174,060,000 or $0.68 per basic and diluted share, compared to $127,577,000 or $0.50 per basic and diluted share a year ago. Operating revenues were $1,167,049,000 compared to $966,367,000 in the fourth quarter of 2012. Operating income was $259,526,000 compared to $216,738,000 a year ago. Income before income taxes was $229,508,000 compared to $188,420,000 a year ago. Net cash from operating activities was $541 million in the fourth quarter 2013. Capital expenditures in the fourth quarter 2013 totaled $763 million, including $505 million related to the Company's fleet expansion program.
For the full year, the company's net income attributable to Noble Corporation of $782,697,000 or $3.05 per basic and diluted share, on operating revenues of $4,234,290,000 compared to net income attributable to Noble Corporation of $522,344,000 or $2.05 per basic and diluted share on operating revenues of $3,547,012,000 in 2012. Operating income was $1,121,558,000 compared to $783,800,000 a year ago. Income before income taxes was $1,018,012,000 compared to $703,225,000 a year ago. Net cash from operating activities was $1,702,317,000 compared to $1,381,693,000 a year ago. Capital expenditures was $2.5 billion, including $1.5 billion associated with the fleet expansion program
For the fourth quarter of 2013, the company reported loss on impairment of $40,103,000 against $2,039,000 for the same period a year ago.
Noble Corporation plc is an offshore drilling contractor for the oil and gas industry. The Company owns and operates fleets in the offshore drilling industry. The Company is engaged in the contract drilling of oil and gas wells. The Company, through its subsidiaries, provides contract drilling services with a fleet of 32 offshore drilling units, consisting of 19 floaters and 13 jackups, focused on ultra-deepwater and harsh environment drilling opportunities in both established and emerging regions worldwide. Its mobile offshore drilling units comprise its offshore rig fleet and operates in a global market for contract drilling services. Its customers consist primarily of large, integrated, independent and government-owned or controlled oil and gas companies throughout the world. It has a single segment, contract drilling services, which conducts drilling operations in Africa, Far East Asia, the Middle East, the North Sea, Oceania, South America, and the US Gulf of Mexico.
Noble Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Reports Impairment Charges for the Fourth Quarter of 2013